Become a Fan

TL Twitter Updates

July 2011

July 31, 2011

July 30, 2011 (Allthingsforex.com) – As the August 2 deadline approaches, the week ahead will keep traders focused on the U.S. debt ceiling deadlock, coupled with four interest rate announcements from major central banks and the all-important U.S. Non-Farm Payrolls report which could offer a glimpse of hope from the U.S. labor market.

In preparation for the new trading week, here is the outlook for the Top 10 spotlight economic events that will move the markets around the globe.

1. USD- U.S. ISM Manufacturing Index, a leading indicator of industrial activity, where a reading above or below 50 is the dividing line between economic expansion and contraction, Mon., Aug. 1, 10:00 am, ET.

The U.S. manufacturing sector is forecast to register another month of expansion with an ISM index reading of 55.5 in July from 55.3 in June, but a move back towards 50 would be an indication of a loss of momentum in industrial activity.

While the market has recently begun to price a rate cut, the Reserve Bank of Australia’s latest hawkish statement, along with higher-than-expected inflationary pressures in the second quarter, have reduced the odds of reduction in the benchmark rate. Although current conditions do not create any urgency to change monetary policy and the bank is expected to keep rates at 4.75% in August, policy makers could leave the door open to “further tightening” that “would be necessary at some point.”

3. USD- U.S. Personal Income and Outlays, a measure of the income received and purchases made by consumers, released along with the Personal Consumption and Expenditures Price Index- an indicator of inflation preferred by the Federal Reserve, Tues., Aug. 2, 8:30 am, ET.

The Fed’s preferred inflation gauge, the core PCE Index which excludes food and energy costs, is expected to show subdued inflationary pressures with the index increasing by 0.2% m/m in July from 0.3% m/m in June. Consumer spending in the U.S. is forecast to register a small increase by 0.1% m/m in July, compared with 0.0% m/m in the previous month.

4. USD- U.S. ADP-Automatic Data Processing Employment Report, a measure of jobs lost or added to the private sector of the economy, also serving as a leading indicator for the outcome of the monthly non-farm payrolls, Wed., Aug. 3, 8:15 am, ET.

Following the stronger-than-expected 157K new jobs created in June, the private sector payrolls are forecast to see a smaller increase by up to 110K in July. An even lower than expected number could add to the market’s growing concerns about the state of the U.S. job market.

The Bank of England’s August meeting would be likely to bring more of the same- no change in the existing accommodative monetary policy as the benchmark rate is left at the low 0.50% level. With the U.K. economy growing at a slower pace in the second quarter of 2011, there is an increased probability that some Monetary Policy Committee members might renew the discussion for additional quantitative easing. The GBP could see selling pressure mounting if the odds of expansion in the bank’s Asset Purchases Program increase exponentially.

With inflationary pressures staying elevated throughout the summer, the European Central Bank could maintain its inflation-fighting stance despite of the EU debt crisis. However, after the two 25 bps rate hikes to 1.50% in the benchmark rate have managed to bring inflation a bit lower in July, the European Central Bank might decide that it is time to pause in August. Although the market is expecting another rate hike by the end of the year, a less hawkish ECB statement followed by a more upbeat U.S. Non-Farm Payrolls report could become supportive of a USD relief rally, especially if the debt ceiling deadlock in Washington comes to an end.

The Bank of Japan is not expected to change its accommodative monetary policy, but as the U.S. dollar continues to grind lower against the yen and approaches its post World War II lows, all eyes will be on Bank of Japan’s next move, which could include a currency market intervention as a result of the recent “one-sided moves of the yen”.

The Canadian economy is forecast to add up to 20,300 new jobs in July, a slower job creation compared with the 28,400 jobs in June, while the unemployment rate stays unchanged at 7.4%.

10. USD- U.S. Non-Farm Payrolls and Employment Situation Report, one of the most important indicators of economic health, measuring the number of new jobs created or lost in the world’s largest economy, Fri., Aug. 5, 8:30 am, ET.

After two dismal Non-Farm Payrolls reports which confirmed the Fed’s concerns about the “frustratingly slow” pace of recovery, we could see a bit more optimistic employment data with consensus forecasts expecting the U.S. economy to add up to 85K jobs in July from only 18K in June. The unemployment rate could remain stubbornly high at 9.2% as a daunting reminder of the lack of significant improvement in the U.S. job market. A weaker-than-expected employment report could reinforce the Fed’s view of keeping rates low for “extended period” and maintaining its accommodative monetary policy, and could put additional pressure on the USD. On the other hand, a more upbeat U.S. Non-Farm Payrolls data could become supportive of a USD relief rally, especially if the U.S. averts a credit rating downgrade and the debt ceiling deadlock in Washington comes to an end.

July 30, 2011

The 5-day down move the past week was certainly not what I expected. Everything was triggered downward by the large move down on Wednesday.

Friday the index closed below the low side of the up moving pitchfork. SATS5 turned black. We have now a new open short position as shown in the table at the end of this page. We still have a total realized profit of 45.6%. The index bounced up on Friday from the 200-day average. Since there is no other support around, I think it will be broken soon probably after some consolidation. Are we still in the making of correction wave (4), or worse, have we started the long term down move? It will become clear in the next couple of weeks.

Last week I wrote: with price now above the 50, 100 and 200 day rising moving average and with room for a further up move in all indicators, and our changed Elliott wave count a few weeks ago, it looks like we are going further up to complete impulse wave 5. That would also be in line with an expected further move up of the S&P500 index (futures).

With an up, down and up move again, we finished the week slightly higher than the previous one with a closing price still above the averages. SATS5 turned green. For now it looks like the EUR.USD and the S&P500 are out of sync, especially intra-day. Not so easy to say what is coming next week. Short term and looking at the daily chart we should get a correction or some consolidation. The trend is down with lower tops and lower bottoms. Medium term and looking at the weekly chart I would not exclude a shorter term up move and watching the long term with the monthly chart, we may have started a long term down move already, until now also with lower tops and bottoms. The SATS5 expert turned green for a new long position.

July 28, 2011

In this sequel to the bestselling Market Wizards, Jack Schwager taps into the minds of top financial wizards and reveals the secrets of their astonishing success. Asking the questions that readers with an interest or involvement in the financial markets would love to pose to these financial superstars, Schwager gets the answers and shares their valuable insights. Entertaining, informative, and invaluable, The New Market Wizards is a must-have for any trader’s bookshelf.

These traders use different methods, but they all share an edge. How do they do it? What separates them from the others? What can they teach the average trader or investor? In The New Market Wizards, these wildly successful traders relate the financial strategies that have rocketed them to success as well as the embarrassing losses that have proven them all too human.

What are Japanese Candlesticks - and why should traders use them? This brand new video workshop will help you understand and master this powerful tool with high impact results. Steve Nison is the premiere expert on Candlesticks in the world - and now you can benefit from his expertise in the comfort of your own home. Filmed at a unique one-day seminar he gave for a select group of traders - you'll find discover:

- The Most Import Candle Patterns- Using the Power of Candles for Online Trading- Combining western technical indicators with CandleStick Charts for increased profits- Reducing risk with Candlestick Charts- Swing & Day Trading with Candlestick Charts -and so much more.

It's an incredible opportunity to have the foremost expert guide you totrading success - now at a great savings.

July 27, 2011

Scott Redler, chief strategic officer at T3 Live, went live on CNBC Asia last night to discuss the specific stocks he is currently following, his strategically disciplined investment approach, and his new book, The Modern Trader.

In the book, Scott and his partners at T3 Live share their improbable and inspiring stories and the trading lessons they've learned along the way, illustrating the necessity of adaptability in today's modern markets.

Check out this clip to find out why Scott's chapter is called "The Workhorse..."

Evolution implies improvement and organic growth. Mutation is just adding another layer of facade to the same old core. Traders and investors have been forced to evolve while markets continue to mutate.

Markets give the perception of improvement since the early electronic trading days advertising better liquidity, easier and faster electronic access and fairer pricing. Underneath the surface, however, is the same old game of “hide the transparency from the public.” Professionals (funds/institutions) continue to have better access to the playing field at the expense of the little guys (retail traders and investors), the advantage of the few over the masses.

The dark pools of today are identical to the Instinet terminals of the old days. Simply put, access to the few (institutions) away from the retail traders and investors, thereby tilting the advantage of transparency in their favor.

Let's call a spade, a spade. HFTs are not noble charities trying to provide liquidity to the markets or help the little guy. They are in it to make bucks. HFTs don't provide liquidity, they stalk and cannibalize it! They front run order flow with speed and exploit their access to better pricing with dark pools. Let's not even forget the quote stuffing used to nudge the spreads to shake the markets and give the illusion of liquidity...this is their game.

Take a look at any time of sales for a stock and you will see numerous prints with prices that carry over four places past the decimal (i.e.: XX.XXXX). Try putting in a limit price doing the same thing. It will get kicked out. Yet, you may get filled with a price in the same .XXXX format. Don't delude yourself into thinking you got price improvement. You got leftovers.

While a few thousandths of a penny many not be significant to anyone, keep in mind that when a bunch of HFTs are leapfrogging for the same edge, the last person to get filled will be the retail buyer or seller. If there's any demand in the stock price, you can be sure that you will either have to wait or pay TOP price either way.

Has this made trading tougher? YES! It hasn't made it any easier. Has it forced traders to EVOLVE? Again, yes. It has required traders to be better prepared technically, better allocated, better paced, sharper to identify those rapidly closing windows of opportunity and react (don't forget that part!). Once transparency is full blown, it's over.

Today's trading is a game of liquidity over price. Sacrifice price for liquidity, because at the higher exit prices, you can rest assured there will be a bunch of HFTs and traders crowding for the exits which can reverse the momentum extremely at the drop of a dime. For example, do you take your .30 scalp profit now or try to sell into an upper Bollinger band for a .50 profit which could trigger a rug pull of selling that may tank the price - .75? Not that this happens all the time, but it happens a lot more frequently. This is of course in the context of the overall trading environment.

On the flipside, the leapfrogging nature of the HFTs has also allowed for some extreme whiplash and exaggerated moves which can be beneficial if you are in the position and not chasing. This is easier said than done. Extreme musical chair movements up and down are the other by-product of the rampant HFTs. Pity the poor retail trader with their market order chasing these prices.

With that all said, this is what makes the markets tick. It is what it is. The name of the game is always to find transparency before it becomes too transparent. HFT's have hammered that point. You either have to be very early or very late to catch the laggards. Don't diddle in the middle and get chopped. As for the future of HFTs, they broke the cardinal rule. They too have become too transparent, and as such, will likely face more regulation. The HFT activity has also died down as a result. You can't be a ghost forever...

We deal with this every trading day and have adapted. Some days are better than others, but hey, that's the markets!

July 24, 2011

July 23, 2011 (Allthingsforex.com) – With the EU summit and the new bailout package for Greece in the rearview mirror, the focus will shift to the U.S. debt ceiling debate and vote as the August 2 deadline approaches in a busy week ahead which is forecast to deliver another sequence of unimpressive economic data from the world’s largest economy.

In preparation for the new trading week, here is the outlook for the Top 10 spotlight economic events that will move the markets around the globe.

The 0.5% q/q contraction in the U.K. economy in the fourth quarter of 2010 was followed by 0.5% q/q expansion in Q1, but the consensus forecasts are pointing to a much slower 0.1% q/q growth in the second quarter of 2011. Anemic U.K. economic growth could raise the odds that the Bank of England would be in no hurry to hike rates in the near future- a factor that could continue to weigh on the GBP.

Following the weaker-than-expected existing home sales, the sales of new homes in the U.S. could see a small increase to 321K in June from 319K in May, although some less optimistic forecasts expect the new home sales to remain flat in June.

Westpac Banking Co. recently became the first one of the large Australian banks to forecast a Reserve Bank of Australia rate cut by the end of 2011. Subsiding inflationary pressures in Australia would be supportive of Westpac’s expectations as consumer prices register a smaller increase by 0.7% in the second quarter from 1.6% in Q1 2011.

Although the Reserve Bank of New Zealand is not expected to raise rate at this meeting, the market could continue to price a Reserve Bank of New Zealand rate hike by the end of the year if the central bank leaves the door open to future monetary policy tightening on rising inflation and stronger economy. On the other hand, the Reserve Bank of New Zealand may express concerns about the negative impact on exports from the unstoppable rally and record highs of the New Zealand dollar.

6. USD- U.S. Pending Home Sales, a leading indicator of housing market activity measuring the amount of homes under contract to be sold, Thurs., Jul. 28, 10:00 am, ET.

This could be another weak housing market report with the pending home sales index forecast to drop by up to 1.0% m/m in June, compared with the 8.2% m/m increase in May.

The preliminary flash estimate of the European Central Bank’s preferred inflation gauge is forecast to show consumer prices remaining above the 2% comfort level; rising by 2.7% y/y in July, same as the 2.7% y/y reading in June.

9. USD- U.S. GDP- Gross Domestic Product, the main measure of economic activity and growth in the world’s largest economy, Fri., Jul. 29, 8:30 am, ET.

The main spotlight event of the week will bring the Q2 2011 preliminary estimate which is expected to show the U.S. economic growth slowing to 1.6% q/q in the second quarter, compared with 1.9% q/q in Q1 2011. A sequence of weak U.S. economic data throughout the week could confirm the Fed’s concerns about the “frustratingly slow” pace of recovery.

10. USD- U.S. Consumer Sentiment, the University of Michigan's monthly survey of 500 households on their financial conditions and outlook of the economy, Fri., Jul. 29, 9:55 am, ET.

The U.S. consumer sentiment index could see an upward revision with a small increase to 64.1, compared with the preliminary estimate of 63.8 for the month of July.

July 23, 2011

This updated course on options strategies brings to life one of the most respected and highly sought after educators in the industry. Rarely will you find a standalone course that delivers strategies this powerful. It's an exceptional look at methods developed from years of trading experience - all bundled together in a six-hour workshop.

Updated with current examples and applications and almost 200 new pages in the manual, this bestselling options course is now more powerful than ever.

The money-making tactics you'll learn make this the most important investment you make in your trading future. With Larry McMillan’s NEW Option Strategies Course you get: · Over 6 hours of presentation from one of the most respected authorities in options. · An 278 page manual that includes Larry’s own option strategies · Detailed insight on using the VIX to predict explosive buy signals. · Tactics to hedge against risk in your stock portfolio using volatility futures · Money management strategies that allow you to dial in on the optimal trade size · Proven tips on how to protect your account from the costly impact mistakes

Iron Condor: Neutral Strategy for Uncommon Profits introduces you to this strategy with concepts, ideas, and rules of thumb gleaned from the PowerOptionsApplied newsletter’s successful trading of the iron condor over the past five years. But this book goes deeper than just theory and concept to bring you real-world examples featuring real profits and actual mistakes. From the professional experiences shared in this guide, you will learn to:

• Search for, find, analyze, enter, manage, roll, and exit the iron condor strategy• Select the right security, including indexes and ETFs • Determine the right broker to use when placing an iron condor trade • Reduce and manage risk involved with trading iron condors • Optimize the strategy for maximized returns

Complete with profit and loss diagrams and actual calculations, fact-based statistics and probability, this book gives you the knowledge you need to put the iron condor to work—and see how powerful this strategy can be for you.

My best guess last week for a further down move was only correct for last Monday. The index came close to the lower side of the up moving pitchfork and found support at the level of the previous top 1 and the lower side of the band break channel. The rest of the week was a nice up move. All indicators are now turning up with ample room for a further move up. If our changed Elliott wave count a few weeks ago is correct, we can expect a further up trend to complete wave (5).

SATS5 is red. We have no open position. We still have a total realized profit of 45.6%. All trading entries and results can be found at the bottom of this page. You can follow up FREE SATS5 signals for 42 stocks HERE. (22.4% profit since September 2010).

Last week I mentioned the contradiction between the price triangle pattern and the indicators starting a new up move. That contradiction made it difficult to guess which way price would go. I thought down, but that was clearly wrong. The EUR.USD followed the S&P500 (futures) and went higher.

With price now above the 50, 100 and 200 day rising moving average and with room for a further up move in all indicators, and our changed Elliott wave count a few weeks ago, it looks like we are going further up to complete impulse wave 5. That would also be in line with an expected further move up of the S&P500 index (futures). The SATS5 expert remains red. There is no open position. Have a look at my forex robot DSTfx01.

July 21, 2011

Dale Wheatley knows options. He knows exactly how to keep it simple, find the perfect set-up, and trade it for maximum profit. But, the best part is—Dale will not rest until he tells you how to make exceptional amounts of money too.

In this extensive 4-disk DVD course, Dale uses “patterns of power” to show you exactly how you can make 1,000% plus gains by using options. Starting with a powerful and motivational talk about goal setting and positive attitudes, Dale then dives head first into his Moving-Average-Convergence-Divergence (or MACD) strategy for trading stock options. His unique disciplined approach, together with the power of compounding, has resulted in a system that's both profitable and fun to trade without the need to trade frequently.

In his exciting style and with plenty of current chart examples, Dale will show you:· Exactly how the MACD gives you high-probability trade entries;· How to use multiple time frames to gain an edge;· His exclusive group sector structure for stock selection; · What chart patterns are pure gold to trade, and· How options offer you the ability to make more money than you ever dreamed possible.

Have you ever felt that could make more in the markets? Has the success you know you are capable of been just within your grasp, only to slip away before you can lock in the profit? Profitable trading is a combination of strategy, analysis, psychology, and determination and until now, it took years to find the perfect balance of each. Never before has a master outlined how to put the pieces together in a guide that is so easy to understand and interesting to read. The key to gaining control of your trading and collecting the payouts you know the market holds is finally available.

This book is a comprehensive guide that brings together all aspects of trading, from the psychological to the physical, to the specific technical concepts necessary for success. It will give traders the mindset and skills to:

· Identify fertile trading environments—and profit big from them,· Target big plays within each trading period throughout the day to find the best trades, · Identify vital time and price points for the best returns, · Incorporate fundamental analysis into a technical trading system, · Avoid the traps with specific techniques to prevent blowout.

Numbers 5 & 6 to be announced on Saturday! See if your favorite trading title made the list!

It's a subject I haven't given much thought to and don't know exactly what they are doing that needs to be regulated. All I know is they need to leave the free flow of markets in place as much as possible. As far as the markets themselves are concerned, they are subject to universal laws and principles. When the trader's edge shows up, it shows up. Don't need to be concerned what others are doing. It's enough to be disciplined to know what you are doing. The markets are big enough for everyone, and if one is overly concerned about what high frequency traders are doing, you probably shouldn't be trading anyway. This is not a child's game.

I asked several of our authors and trading experts to weigh in on Monday's post in reference to the New York Times article about high-frequency trading. We received a number of responses with some really enlightening opinions and information from the people that know best. I'm going share some of their expertise here on the blog, so keep an eye our for these upcoming posts.

Program algorithms now comprise more than 70% of all market volume. This transistorized influence has undermined the traditional role of greed and fear in price discovery. In addition, the broad market and individual stocks no longer trend to higher or lower ground according to the classic forces of supply and demand.

July 19, 2011

This is the question asked of us by Napoleon Hill. Originally published in 1937, and selling more than 60 million copies worldwide, Hill’s Think and Grow Rich is the classic motivational book. Inspired by Andrew Carnegie, Hill studied the work and lives of some of the most successful people of the Industrial Era including Ford, Wrigley, Eastman, Rockefeller, Edison, Woolworth, Burbank, Morgan, and Firestone—as well as three United States Presidents.

From his 20 plus years of research into the characteristics of what launched these individuals into greatness and wealth, Hill developed his 13 universal principles, meant to inspire any individual to a richer, fuller life. The true genius of his writing is the simple way in which he explains that wealth comes from seeing your goal in your mind and making it happen, no matter what.

Vervoort's system, “LOCKIT,” introduces you to a number of special indicators and techniques for a more successful application of technical analysis like: · a practical Elliott Wave count indicator to help you estimate the direction of price and to create price targets, · a Heikin-ashi Bollinger Bands %b indicator to show actionable divergences in price,· Vervoort's brand new, proprietary indicator SVAPO (“Short term Volume and Price Oscillator”) with programming code,· optimized ATR trailing stop methods to protect gains, · specific money and risk management rules to keep you profitable,· and much more.

On top of all this, Vervoort's book comes complete with Metastock code for all of his indicators and technical trading techniques. There is a CD included to get you started right away!

July 17, 2011

The market has three basic modes. It can be going up, down, or sideways. Over time the markets movement is made up of combinations of these three different behaviors. None of these behaviors lasts for long, the market is always switching between them. This is one of the keys to trading. Traders need to recognize that the market moves between these three modes and have the ability to recognize then the change has arrived and be able to switch to trading tools suitable for the new environment. This is a process I call Market Adaptive Trading. The market will not adapt to us. It does not care what we want or think. Therefor we must adapt to it.

If I know how a trading system, or trading tool as I refer to them, performs in each of the three different market conditions; then I can watch the market to determine what type of condition we are currently experiencing and then use the tools that have shown good results in that type of market condition. This is the process of Market Adaptive Trading. It takes some practice to quickly recognize the current market conditions, but this is a lot easier that trying to predict where the market is going.

No one has consistently predicted where the market is going over the long run. Remember all those empty suits on the TV news shows telling us everything was fine just before the 2008 crash. They did the same thing before the 2000 crash. Not even (or perhaps especially) the experts can successfully predict market direction consistently. However you can learn to look at a chart and tell if the market is going up, down, or sideways. And that is actionable information, as opposed to someone’s guess of where the market is going to be in three months or a year.

The successful trader has a tool box with a variety of trading tools for use in different market conditions. The trader, like the carpenter, must go beyond just acquiring the tools. Traders must understand which tool to use for a specific task, and have a clear understanding of how the tool works, and what can and cannot be done with it. I have extensively tested several trading systems, the results of this testing on specific trading trading tools are outlined in How to Take Money from the Markets, and Money-Making Candlestick Patterns. The testing process helps us understand how stocks usually behave after forming a specific pattern such as being outside the Bollinger Bands, showing strong distribution or accumulation, or pulling back or retracing during a trend. Understanding what a stock is most likely to do forms the beginning of a trading strategy. Trading without this information is taking unknown risks.

July 16, 2011 (Allthingsforex.com) – Uncertainty about the outcome of the U.S. debt ceiling vote and the EU debt crisis woes will continue to rattle the financial markets in the week ahead which will include series of important U.S. hosing reports and forward-looking indexes of economic conditions in the Euro-zone.

In preparation for the new trading week, here is the outlook for the Top 10 spotlight economic events that will move the markets around the globe.

The market has been pricing a Reserve Bank of New Zealand rate hike by the end of the year and rising inflationary pressures could support these expectations, especially if consumer prices shoot significantly above the previous quarter’s increase of 0.8% q/q.

Two weeks after the Bank of England’s decision to keep rates at their record low 0.5% level for another month in July, the minutes could confirm the market’s expectations that the Monetary Policy Committee is not in a hurry to raise interest rates anytime soon.

6. USD- U.S. Existing Home Sales, the main gauge of the condition of the U.S. housing market measuring the number of closed sales of previously constructed homes, condominiums and co-ops, Wed., July 20, 10:00 am, ET.

The sales of existing homes in the U.S. could instill some cautious optimism with forecasts pointing to an increase to 4.95M in June from 4.81M in May.

7. EUR- Euro-zone Composite PMI- Purchasing Managers Index, a leading indicator of economic activity in the manufacturing and service sectors, Thurs., July 21, 4:00 am, ET.

Some signs of a slowdown in the Euro-zone could become more visible by a Composite PMI reading of 52.7 in July, compared with 53.3 in the previous month.

Stronger summer consumer spending could help the U.K. retail sales to recover from the 1.4% drop in May with an increase by 0.5% m/m in June.

9. EUR- Germany IFO Institute Business Climate and Expectations Index, a leading indicator of economic conditions and business expectations in the Euro-zone’s largest economy, Fri., July 22, 4:00 am, ET.

Just as the ZEW survey, the German IFO index is forecast to show a shift lower in the outlook for the largest economy in the Euro-zone with a reading of 113.3 in July from 114.5 in June.

July 16, 2011

As expected we got a further reaction down the past week. We now may be looking at a double head and shoulder pattern. The indicators have room for a continuation of the down move.

SATS5 turned red on Tuesday. The open long position is closed with a small loss of 0.5%. This trade is shown in the table below. Best guess is a further move down. SATS5 is red. We have no open position. We still have a total realized profit of 45.6%. All trading entries and results can be found at the bottom of this page. You can follow up FREE SATS5 signals for 42 stocks HERE. (22.4% realized profit since September 2010).

Last week I wrote: "Hard to guess were we are going next week. I have the feeling it is going down and that we are going to test the level of wave a, around 1.40". Well, we tested that level and then bounced back from the support of the 200 day average.

The triangle formation was broken to the down side, next retracing back to the lower side of the triangle. So, I would expect now a continuation of the down move. This would also confirm the expectation of a further move down of the S&P500 index. But there is no confirmation by the indicators on the daily chart here. This contradiction makes it quite difficult to make a short term prediction. I would rather go for a down move, since the longer term trend is still down. The SATS5 expert remains red. There is no open position. Trade with my forex robot DSTfx01.

How T3 Came to Be

The day the five partners met, five traders agreed to join forces. Before the encounter, they all figured it would be just another meeting, similar to ones they often took, looking for opportunities to advance their businesses. It was a thirst for growth that made each of them highly successful entrepreneurs. Introduced through acquaintances who identified a mutual eagerness for expansion, Sean Hendelman, Marc Sperling, Scott Redler, Nadav Sapeika, and Evan Lazarus immediately struck a chord. Each had no pre-conceived notion as to what qualities the others would offer and no expectation that a deal would be struck at any point. All had been involved in several trading partnerships, and each required a long feeling-out process before any deal could be reached.

At First Meeting

In this instance, the fit was perfect. Usually, it takes time to identify how someone’s strength will mesh with another’s. At the time of this first meeting, Sean Hendelman and Nadav Sapeika were partners at Nexis, a trading firm with a very strong training program and many skilled young traders, as well as an extensive blackbox trading business. Marc Sperling, Scott Redler, and Evan Lazarus were the partners at Sperling Enterprises, a trading firm with many older traders who were some of the heaviest hitters on the Street. Each firm had a core competency that drove its consistent success, but neither had the full package. Something was missing.

At Nexis, Sean and Nadav had worked tirelessly to develop the highly successful training program that boasted a much higher than average industry retention rate for new traders. In a business where only close to ten percent survive more than a year, close to half of the traders under their tutelage reached profitability. The program was thorough, but only incorporated a narrow school of shorter term scalp trading. More content and credibility was needed to take it to the next level. They dreamed of a comprehensive training program backed by a well-established trading firm. Sperling Enterprises was the perfect match.

The synergy between the two organizations was apparent from day one, and it was easy for all parties to come to an agreement later that same day. After achieving consistent success training new traders, Nadav and Sean sought a way to channel the program into something that could be made available to a broader audience. The trading floor is a unique and exciting environment. The most successful firms foster a sense of teamwork and camaraderie that facilitates good, disciplined training. Traders work together, sharing stocks in play, noting ones that are at important levels and calling out those making moves. Veterans mentor young traders. Everyone shares analysis and ideas, making information available for eager traders to learn and improve their skills.